750,000 Californians Past The Age Of 65 Are Still Working

Tyler Durden's picture

Regular readers are well aware that residents are rushing out of California in droves for many reason, least of which is the high cost of living. For those older California residents that choose to stay however because they simply can't uproot their lives and start "fresh" somewhere else, the reality is even more gruesome as they have no choice but to continue working into their retirement years. More than 740,000 Californians between the ages 65 and 74 are still employed or looking for work the Sacramento Bee reports, and the reasons are largely attributable to money.

As the Sacramento Bee reports, more than 740,000 California residents between ages 65 and 74 are employed or looking for work, roughly double the number from 15 years ago, according to a Sacramento Bee review of the latest census data.

Much of that growth reflects a swell of baby boomers entering retirement age. But the proportion of California seniors between ages 65 and 74 still working or looking for work also has risen, going from 20 percent in 2000 to 26 percent in 2014.

 

Californians are working longer for a number of reasons. Some do not have enough money to retire or are among a growing number of seniors living in poverty. Others are waiting to collect their full allotment of Social Security payments as the federal retirement age gradually rises from 65 to 67. Many are simply in good health and want to keep working as life spans increase.

The percent of Californians ages 65-69 who are still working or looking for work has increased dramatically since 1990, and still remains well over 30%. The percent of residents between 70-74 who are still working or looking for work has trended up since 1990 as well, although much more gradually, and remains just under 20%.

Not surprisingly, seniors in the Bay Area (due to the tech bubble that we have covered extensively) and Los Angeles metro area are most likely to work past 65.

 

Perhaps the most interesting thing from the Bee's report is that the jobs that seniors are holding are traditionally higher paying, which implies the cost of living is so horrendous in California that literally everyone is struggling to make ends meet, let alone get ahead in order to retire.

However, older workers are still performing jobs that younger workers are more likely to perform, which again is a red flag that older workers are doing anything they can in order to continue to earn money in what is considered retirement age. It is notable that these types of jobs are lower paying jobs, which one can infer the severity of older workers needs to make ends meet.

 

The fiscal situation for these seniors is about to get much, much worse. With Governor Brown signing the new minimum wage bill, that even he admitted makes no sense economically, one can rest assured that those increased labor costs will indeed be passed on to Californians in one form or another. Also, don't forget that tax increases are looming for the the Golden State. Recall that Cali had missed projected tax revenues by nearly $1 billion through the first four months of the year - those revenues will have to be replaced somehow, and with residents leaving in droves, those that remain will have to shoulder the burden.

That said, at least the above example provides a vivid demonstration why the US labor participation rate is crashing as more and more younger workers are unable to develop work careers as increasingly more aged workers remain stuck in their positions thus bottlenecking the natural pipeline of US jobs, and forcing millions of younger Americans, for whose meager skills there is no demand, to stay in school.

Meanwhile, the number of American workers aged 55 and older enjoying Obama's "recovery" have never been greater...

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Robert Trip's picture

Plenty of blow jobs availabe.

santafe's picture
santafe (not verified) Robert Trip Jun 25, 2016 8:10 PM

They THOUGHT America had BIG things for them. WRONG!
http://wp.me/p4OZ4v-zL

Old Poor Richard's picture

Over-65 workers would like to retire, but workers under 30 raised in Califorina public schools are so blazingly stupid, self-centered and incompetent that the seniors need to work to keep the state from collapsing back to the stone age.

Boris Alatovkrap's picture

Please, do not blame economic blight of California on worker under 30!

(there are no worker under 30, all are too lazy to even put on day time attire and leave parental home)

Stuck on Zero's picture

The only people I know who can retire at any age are government workers.

NoPension's picture

Ain't that the fucking truth. And then go out and get another government job, and double dip.

White Mountains's picture

I asked a government worker why they get so much better pay, medical, vacation, and retirement benefits than private sector workers doing the same work.

She told me "It's because if we went into the private sector we would make much better money starting and running a business, but I chose to sacrifice that for serving the public".

I kid you not.

Delphi_Addiction's picture

I'm a financial planner in Texas. My business thrives on these fleeing hordes of Californians- the vast majority young (55+) and from .gov employment. (For many years, the lavishness of their benefits shocked me and required me to literally "work through" my anger.) And I hear this from every single one. They'll be the first to acknowledge the mind-numbing incompetence and beauracracy of their various employers. But to a person, they will parrot some version of your comments... "They deserve it" for this reason or that... They needed four weeks of vacation because "their job is so stressful" (don't even get me started on teachers)... "They could make so much more in the private sector." My TX municipal (city, county) retired clients are bringing home $6500/mon month. When I run the math I get literally sick. Retiring from CA and moving to TX is admittedly genius. It's like doubling your benefits.

SBO? Ha! These people couldn't run a lemonade stand. Even if they were smart enough and had the work ethic (they aren't and don't), they lack the people and leadership skills from never having actually produced anything in their life for thirty years. .Gov only takes and operates in a monopoly. They're essentially civil service trust fund babies, delusional from years of WaPo or LA Times propaganda. You do start to surrender/understand how liberalism continues to grow in popularity, though. Which is a huge psychological benefit for a self-reliant Texan who never understood things like voter ID reistance and Sandra Fluke.

It's then that you come to the major truth- the realization that half of the country (and growing) is not employable in the private sector. We give a large % of them money to not work, another % a little money to put on clothes every morning (DOT and TSA), but that's welfare w/ a paycheck. And the rest exist because no one in government has any incentive to shrink their budget (state capitols and such.) That's when you start laughing anytime you see America and Capitalism in the same sentence. I have military intelligence clients who admit they haven't done more than four hours of work/day in two years. And these people easily make $150K year. Plus their pension (double dippers). 

As most here know, firing a civil service employee is virtually impossible. I honestly think you would have to stick your dick in a student to get fired from a TX public school. And you would have to kill someone to get fired from anything above dog catcher. My education administrators tell me it would take multiple years to fire a bad teacher. Not that I would hire anyone with new minimum wage trends, but I personally will never hire a non-white straight male ever again- any other demographic is a guaranteed legal headache. I'm literally one asshole from going Galt.

Vendetta's picture

Heard exactly the same thing from a brother-in-law who started singing a different tune after he got hired into the state government.  He thinks social workers get paid lavishly in the private sector but his $65k-75k in govt with 40 hr work weeks, tons of benefits is normal pay and benefits for someone with such training in the private in the pac nw.  What a damn fool who now believes the same lies that he criticized for several years BEFORE joining the dark side with the bright and rosy future with few, if any layoffs and the utter financial destruction so common in the private sector

zeronetwork's picture

So the concept behind is that keeping these old people busy working so they would not go to vote.

JRobby's picture

That is the game. They do quite nicely compared to these poor folks. 

All this time I thought muni, county and state workers were stupid.

They have a couple of houses, boats, etc.

 

LowerSlowerDelaware_LSD's picture
LowerSlowerDelaware_LSD (not verified) Old Poor Richard Jun 25, 2016 9:22 PM

Generation Snowflake!  Good luck getting them to put down their phones long enough to ring up the burgers and fries. 

Robots are on the way...

rbg81's picture

Someones gotta foot the bill for all those illegals.  Might as well be Grandma & Grandpa.  Besides, they have to pay extra for a lifetime of White privilege.

True Blue's picture

How is that, when all the cocksuckers from Cali keep turning up here?

Cynicles's picture

have not been so fortunate in that dept

knukles's picture

See, the further north ya get into Humboldt, the less people have for uh     work         er ah           yeah.

shovelhead's picture

"Dude...like, nobody can trim bud like my Grandpa can and Gram's honey oil brownies will lay you out."

reader2010's picture

They got brainwashed by the haves into believing that working hard is a virtue.  No, it aint.

"The tripalium is an instrument of torture. Labor means ’suffering’. We are unwise to forget the origin of the words ’travail’ and ’labour’. At least the nobility never forgot their own dignity and the indignity which marked their bondsmen. The aristocratic contempt for work reflected the master’s contempt for the dominated classes; work was the expiation to which they were condemned to all eternity by the divine decree which had willed them, for impenetrable reasons, to be inferior. Work took its place among the sanctions of Providence as the punishment for poverty, and because it was the means to a future salvation such a punishment could take on the attributes of pleasure. basically, work was less important than submission."

— Raoul Vaneigem, The Revolution of Everyday Life

acetinker's picture

Yeh, and then it became- land a gubmint job, or if you're really ambitious, go into politics.

Fucking parasites still don't realize their host is near death.

Brexit gives me a glimmer of hope, albeit faint.

Miffed Microbiologist's picture

Ace,
Brexit should give you joy. It is a crack in the supposed impenetrable dam. I am reveling in it. However those who I work with in the 65+ range are not pleased. They and their spouses are reaping the largesse of government pensions and they know what this could mean.

Life has no assurances. Finally we are at the same level.

Miffed

Miles Ahead's picture

@reader2010:  that was brilliant. Certainly vindicates my choices in life.  One thing I learned from my father was - "never work another man's job". 

Hard not to do, but at least it should be remembered. Those who junked you - well your truth was too painful I guess.

I consulted my entire career save a 3 month stint at BP and a 6 month stint at Rockwell Int'l - each time resigning as soon as a contract became available.  Fuck corporations.  Then I stopped even that altogether after 14 years, and instead offered delightful jazz in exchange for coins and paper notes.

It has been rewarding.  Time is (much more than) money.  Fuck work, except working on your craft.  And six-pack.

acetinker's picture

Can't disagree.  There was never a path to redemption that was paved with, you know, righteous souls.

I once thought the Biblical depiction of one-hundred-and-forty-four-thousand worthy individuals worthy was scant.

These days, I'm thinking it's a generous estimation.

Rusty Shorts's picture

interview with Daniel Quinn - 


Where We Went Wrong

 

(excellent!!)

 

https://www.youtube.com/watch?v=BpAxV6uUxsM

gz0's picture

And cheese comes into my fridge by itself on its little legs.

shovelhead's picture

What utter lefty tripe. Not even well written tripe.

Even Homo Erectus had to get out of bed to find his lunch. What makes anyone think they are, or should be, immune to the laws of energy?

The elite landed classes put in many an uncertain hard day with a sword to get where they were. Look at it as residual income for doing a job very few others wanted to do or as a radical way to build rapid equity.

edwin23's picture

I am an over 65 yo CA worker.  Still working  because  I have been laid-off 6 times when an h1-b recipient worker from india took my job .  I figure  I lost $100k in wages and cannot afford to retire yet.  The US workers  subsides the indian gov't because they have too many people & cannot afford to give them jobs. The cheaper solution would be to teach the people of india birth control

Vendetta's picture

Been laid off multiple times after being forced to train H1-b visa holders.  Lost an entire career and virtually everything I had acquired in 20 years round the turn of the century.  Only statistically significant terrorists are the globalists and their legions of minions running the nation and globe into the ground

Robert Trip's picture

A liberal paradise is struggling.

CheapBastard's picture

Working until you die [or starve to death for "the cause"] is a socialist utopian's dream!  The "awesome recovery" is resulting in some "awesome poverty."

DosZap's picture

If the ones that own or are buying homes in areas where property is skyrocketing GET THE HELL Out now.

The $$$$$$$$$ you  make of your pad there will enable you pay cash for a 300k home in cash elsewhere with lots left over.

Can't wait till the taxes coming in, are not enough  to support the sanctuary illegal  dwellers, and the crime wave hits.

It's coming.

Robert Trip's picture

Can't wait for "Shit Hits The Fan" Monday.

acetinker's picture

I ain't gonna lie, and I don't live in Cali, and I didn't read the post or look at the pretty charts- BUT:

They don't call it the daily grind for nothing.

FX223's picture

It's everywhere, people that should be retired and walling the freedom 55 dream stroll along a sun setting beach but instead they're asking if you'd like fries with at?

They are taking the jobs serving coffees that should be going to the kids just entering working age...but fuck it, everything is roses and unicorn farts.

 

The Obama recover WINNING!

 

Keep stacking, reset coming in 5...4...3...2..

mkkby's picture

Most could retire if their lazy, useless and semi retarded kids could support themselves.  But the snowflakes can't and won't do that.  So it's either let the little bastard starve, or take that job at mickey d's.

I'd let em starve.  They ain't worth saving.

JamaicaJim's picture

It's that God Damned Hopey Dopey and Changy Wangy that Fuckbama promised!!!!!!!!

 

.....................the cunt

bugs_'s picture

But are they double dipping?

ZD1's picture

Maybe .gov retirees with pensions but probably everybody else has no savings or 401Ks.

NoWayJose's picture

The author missed the fact that seniors used to get 2% OVER the inflation rate on their savings. Now they get 0.2% meaning they either lose principal or work. This is Amerika's fate.

stacking12321's picture

and YOU missed the fact that the moon landing was a hoax, and that global warming, chemtrails, and the american flag are REAL!

 

Who was that masked man's picture

I didn't think ANYONE worked in California.

I Write Code's picture

Them burritos don't flip themselves.

ParticularlyStupidHumanoid's picture

Actually, yes they do, once minimum wage rises above the cost of robots. But the cost of robots is declining, and the cost of being a human is not declining, and so it is inevitable that, yes, even your tacos will be made by the loving metal hands of a robot.

So maybe you don't believe that this is possible. Have a look at Thermomix. It's an automated sauce pan, amongst other things. It does not yet automatically order and squirt ingredients out, but that's just a matter of cost, particularly relative cost. Eventually, the word "restaurant" will refer to a home appliance.

Vendetta's picture

that's 'manufacturing' .... they haven't shown the episode of "How its made" detailing the burrito flipping process with the nice little jingle playing in the background.

ZD1's picture

Cali is the welfare capital of the U.S.

 

Cali has more than one third of the welfare cases in the U.S.

LowerSlowerDelaware_LSD's picture
LowerSlowerDelaware_LSD (not verified) Who was that masked man Jun 25, 2016 9:24 PM

The porn flick industry is booming in CA.

DosZap's picture

Yep,silicon valley  big bucks, and politicians.

Oh, and the Kardoucheians.

nightshiftsucks's picture

I live in the SF Bay Area and my mother lives close by.She's 78 years old and pretty much all of her life has wasted her money and continues to waste it.She's taking care of her friend who has dementia and my mother is getting paid for it.She hates whats she's doing but has no choice.

Vendetta's picture

The US political system has dementia but has no one taking care of them except K Street lobbyists and wall street bankers.... and those lobbyists and financial types want to take care of the politicos...

I Write Code's picture

There is an increasing number of people who are physically in pretty good shape through age 70 so they *can* work, and the thing is if your're in good shape at 70 you may just keep moving past 80 or even 90 and at that age most people's savings would be long gone.

Of course if seniors' savings were still making an easy nominal 5% in the money market a bunch more might stay home, play bridge, watch porn, whatever, so thank the Fed for all the old folks still getting out there and getting it done.

Miles Ahead's picture

Now if you want to see some Hilarious Monkey shit, start from iAmerican below, and follow that thread.  I'm in tears!  They've hijacked the entire site.

I ain't taking sides; just hilarious to see a Jesus freak and no-so-much have at it.  Truthfully, they're both lost and lost-er.

Edit:  actually I take that back (who woulda thunk it would go on that long?).  At least Seek seems to have common sense and reason.  So he's OK despite how I disagree even with his perspective.

iAmerican... whew... righteous and calling your opponent "faggot"?  If you could reach thru cyberspace no doubt you would kill him in all righteousness.  With your bare hands.